Fly-on-the-wall Learnings – Four Experts Share Best Practices for Month-End Close
May 31, 2017 | By Katrin Kitzman
When four organizations meet to discuss practical tips and techniques they’ve put in place to improve their month-end close, you don’t want to miss it. Two weeks ago in New York that’s what happened and it’s not too late to be a fly on the wall.
Those in charge of the close at GrubHub, Stack Overflow and Oscar as well as the Director of Financial Operations at Connor Group, an advisory for accounting best-practices, joined FloQast and openly shared what they’ve done to improve the accuracy, reliability and timeliness of their overall closes and how to create a cycle of continuous improvement. Focusing on People, Process, Documentation and Reconciliations, each of these experts shared their philosophy and experiences of what works (and doesn’t) for:
- Hiring – recommendations for when to hire CPA’s, non-certified accountants as well as “swimmers” (the type of personality who when thrown in the deep end learns to “swim")
- Predictability – how to build such into your close processes on an on-going basis
- Culture of Improvement – steps you can take to continually refine and streamline the close at your organization
- Ensure Audit Readiness – helpful tips to ensure your team prepares reconciliations for every account and not just those asked about by auditors.
Do you want to uncover specific ideas to improve your month-end close? Take 60 minutes and be a fly on the wall and learn from these experts - watch the on-demand session now. If you want to learn how to improve your close, you won’t be disappointed.